The real story of Black Wednesday

Series Title
Series Details 10.2.05 (editorial)
Publication Date 10/02/2005
Content Type

Editorial considers the UK Treasury papers (released on 9 February 2005) analysing 'Black Wednesday', the day in 1992 when sterling left the European Exchange Rate Mechanism, and concludes that bad analysis and political myopia caused sterling's exit. The author feels that the whole affair continues to inform current Treasury attitudes to the euro.

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